Via Transportation (NYSE:VIA) Shares Gap Down – Here’s What Happened

Via Transportation Inc. (NYSE:VIA) shares gapped down before the market opened on Wednesday . The stock had previously closed at $21.51, but opened at $20.35. Via Transportation shares last traded at $20.6710, with a volume of 22,499 shares traded.

Wall Street Analysts Forecast Growth

VIA has been the topic of several research reports. Citigroup initiated coverage on shares of Via Transportation in a research note on Tuesday, October 7th. They issued an “outperform” rating on the stock. Citizens Jmp assumed coverage on shares of Via Transportation in a research note on Tuesday, October 7th. They issued a “mkt outperform” rating and a $59.00 target price on the stock. Wells Fargo & Company started coverage on Via Transportation in a report on Tuesday, October 7th. They issued an “overweight” rating and a $60.00 price target for the company. JMP Securities started coverage on shares of Via Transportation in a report on Tuesday, October 7th. They issued a “market outperform” rating and a $59.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of Via Transportation and gave the company a “buy” rating in a report on Tuesday, October 7th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.91.

Via Transportation Stock Up 3.7%

The company has a current ratio of 5.17, a quick ratio of 5.17 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.73 billion and a P/E ratio of -31.17. The firm’s fifty day moving average price is $28.69.

Via Transportation (NYSE:VIA) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.04). The business had revenue of $109.65 million during the quarter, compared to the consensus estimate of $106.42 million.

Institutional Investors Weigh In On Via Transportation

Several hedge funds and other institutional investors have recently bought and sold shares of VIA. Strs Ohio bought a new stake in shares of Via Transportation in the fourth quarter worth $52,000. UBS Group AG increased its position in shares of Via Transportation by 104.2% in the 4th quarter. UBS Group AG now owns 110,200 shares of the company’s stock worth $3,197,000 after purchasing an additional 56,225 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Via Transportation in the 4th quarter valued at about $493,000. Assetmark Inc. lifted its position in shares of Via Transportation by 156.3% during the fourth quarter. Assetmark Inc. now owns 1,922 shares of the company’s stock worth $56,000 after purchasing an additional 1,172 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in Via Transportation in the third quarter worth about $2,331,000. 74.40% of the stock is currently owned by hedge funds and other institutional investors.

About Via Transportation

Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks. We are addressing a striking gap in the $545 billion global public transportation market. While billions of people across the globe rely on public transportation, this critical form of mobility has yet to meaningfully benefit from recent advances in technology. Buses still follow fixed routes and schedules planned years, if not decades ago, regardless of actual demand for their service.